Minister of Steel Development Dissolves National Steel Council Board
In a move aimed at repositioning the steel industry in Nigeria, the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, has dissolved the former Board of the National Steel Council (NSC), prohibiting it from conducting any activities on behalf of the Council.
The dissolution, outlined in a letter addressed to the Executive Secretary of the National Steel Council on April 29, 2024, follows directives from President Bola Ahmed Tinubu GCFR, transmitted through the office of the Secretary to the Government of the Federation (SGF) with circular ref. No. SGF.19/S.81/XX/10 on June 16, 2023.
The Presidential Directive mandated the dissolution of all Boards of Federal Government Parastatals, Agencies, Institutions, and Government-owned Companies, excluding those listed in the Third Schedule, Part 1, Section 153 (i) of the 1999 Constitution of the Federal Republic of Nigeria.
According to the Honourable Minister, the dissolution of the National Steel Council Board took immediate effect on June 16, 2023, until the constitution of a new board by the President.
This decision underscores the government’s commitment to revitalizing the steel industry, which plays a crucial role in driving industrialization and economic development in the country.
The Minister emphasized the need for strategic reforms and effective governance structures to address challenges facing the steel sector and unlock its full potential for national growth and prosperity.
As Nigeria continues its efforts to diversify the economy and reduce dependence on oil revenue, the steel industry remains a key sector with immense opportunities for job creation, infrastructure development, and value addition across various industries.
The dissolution of the National Steel Council Board marks a significant step towards implementing reforms that will position Nigeria as a leading player in the global steel market and drive sustainable economic growth in the years to come.
